Common use of Issuance of Registrable Shares Clause in Contracts

Issuance of Registrable Shares. The Registrable Securities are duly authorized and reserved for issuance and, when issued in accordance with this Agreement or upon exercise in accordance with the Warrants, the Registrable Securities, will be validly issued, fully paid and non-assessable, free and clear of any and all liens, claims and encumbrances, and, subject to the registration of such shares in accordance with the applicable provisions of the Securities Act of 1933, as amended (the "Securities Act" or the "Act") and the Securities Exchange Act of 1934, as amended (the "Exchange Act"), will be entitled to be quoted and/or listed (as the case may be) on the OTC Bulletin Board (or the American Stock Exchange, the New York Stock Exchange, Nasdaq Small Cap Market or the Nasdaq National Market System collectively, the "Approved Markets"), and the holders of such Registrable Shares shall be entitled to all rights and preferences then accorded to a holder of Common Stock. The outstanding shares of freely tradable Common Stock are currently quoted on the OTC Bulletin Board.

Issuance of Registrable Shares. The Registrable Securities Shares are duly authorized and reserved for issuance and, when issued in accordance with this Agreement or upon exercise in accordance with the Warrants, the Registrable Securities, will be validly issued, fully paid and non-assessable, free and clear of any and all liens, claims and encumbrances, and, and (subject to the registration of such shares in accordance with the applicable provisions of the Securities Act of 1933, as amended (the "Securities Act" or of the "Act") and the Securities Exchange Act of 1934, as amended (the "Exchange Act"), will be ) entitled to be quoted and/or listed (as the case may be) traded on the OTC Bulletin Board Nasdaq Small Cap Market (or the American Stock Exchange, the New York Stock Exchange, Nasdaq Small Cap Market or the Nasdaq National Market System collectivelycollectively with the Nasdaq Small Cap Market, the "Approved Markets"), and the holders of such Registrable Shares shall be entitled to all rights and preferences then accorded to a holder of Common Stock. The outstanding shares of freely tradable Common Stock are currently quoted listed on the OTC Bulletin BoardNasdaq Small Cap Market.